Money Laundering: Court Jails Courier Over $80,000 Cash
SAN FRANCISCO, January 15, (THEWILL) - A Federal High Court sitting in Kano today convicted one Umar Musa Kibiya who was prosecuted by the Economic and Financial Crimes Commission, EFCC for failing to declare the money on him to the Customs at the Mallam Aminu Kano International Airport. The convict was arrested for failing to declare the $80,000 (eighty thousand United States Dollars) found on him. He only declared $40,000 to Customs.
He was arraigned on Monday 14 January 2013 before Justice Fatu Riman of the Federal High Court sitting in Kano on one count charge that borders on currency under declaration. The charge reads: “That you Umar Musa Kibiya 'male' on or about 17th October 2012 at Aminu Kano International Airport, Kano within the Jurisdiction of the Federal High Court while transporting cash the sum of US$80,000 (Eighty Thousand US Dollars only) from Nigeria to Cairo, Egypt and falsely declared to the Nigeria Custom the sum of US$40,000 (Forty Thousand Dollars Only) instead of said sum of US$80,000 (Eighty Thousand Dollars as required under Section 12 of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act Cap F 34 Laws of the federation of Nigeria 2004 and Section 2(3) of the Money Laundering (Prohibition) Act, 2011 and thereby committed an offence punishable under Section 2(5) of the Money Laundering (Prohibition) Act, 2011”.
The accused pleaded guilty to the charge.
The prosecuting counsel, Aisha A.T Habib, read out the punishment for the offence under section 2 (5) of the Money Laundering Act, 2011: “that any person who falsely declares or fails to make declaration to the Nigerian Custom Service pursuant to section 12 of the Foreign Exchange ( Monitoring and Miscellaneous Provisions) Act, commits an offence and shall be liable on conviction to forfeit not less than 25% of the undeclared funds or negotiable instrument or to imprisonment of not less than 2 years or both”.
The defence counsel N. Maiyaki, pleaded with the court for a light punishment for the accused, claiming that he was a first offender and the bread winner for his family.
Justice Riman who reserved ruling for Tuesday January 15, 2013, convicted the accused and ordered him to forfeit 50 percent of the undeclared sum, which is $ 20,000.